What Could MLK Teach Entrepreneurs?

The nation celebrated Martin Luther King’s birthday yesterday. It is interesting to review what lessons Entrepreneurs can learn from Martin Luther King (MLK).

Dave Kerpen wrote an article on Inc. on January 19, 2004 listing seven lessons from MLK that are still relevant today. Here is my summary:

  1. Dream big – if you don’t dream big, you can’t achieve significant things
  2. Persuade without power – don’t be a “boss.” but be a leader through the power of persuasion
  3. Give people something to believe in – have passion in your Vision so people are compelled to adopt it
  4. Embrace fear and be courageous anyway– be honest with people about the challenges but have the courage to face them anyway
  5. Get everyone involved – Entrepreneurs can’t do everything themselves. They need to have other people involved to build their company.
  6. Create a sense of urgency – have a bias for action to get ahead of competition
  7. Inspire people – without inspiring leadership it merely becomes a job for your people. Have them motivated to fulfill your Vision.

These are lessons that Entrepreneurs can definitely learn from and adopt.

 Ravi Patel

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Are you a Good Teacher?

As an Entrepreneur, are you a good teacher?

Lessons from a good teacher remain throughout life – whether in business or personal situations. One can often refer back to something that a great teacher taught you and marvel at the teachings, even after many years!

Similarly, bad lessons also stay in one’s memory; however, what would you rather be remembered for?

Good leaders most often inspire their followers not only with the actions they take, but also with what they teach their followers. As a business and Entrepreneurial leader learn to educate your employees the right way to think, and the correct actions will follow for the rest of their lives. Don’t always tell employees what to do, but make them learn how to do it.

Most Entrepreneurs and managers don’t take the time to coach their employees as they claim to be too busy and are focusing on current tasks. For the long term success of your company and as a true leader, it is more important to enlighten your employees so they themselves can be effective at what to do.

Do the Right Things – strive to be a good teacher for your employees.

Ravi Patel

http://www.patelCFOservices.com

Lessons for Entrepreneurs from Martin Luther King

The nation celebrated Martin Luther King’s birthday yesterday. It is interesting to review what lessons Entrepreneurs can learn from Martin Luther King (MLK).

Dave Kerpen wrote an article on Inc. on January 19, 2004 listing seven lessons from MLK that are still relevant today. Here is my summary:

  1. Dream big – if you don’t dream big, you can’t achieve significant things
  2. Persuade without power – don’t be a “boss.” but be a leader through the power of persuasion
  3. Give people something to believe in – have passion in your Vision so people are compelled to adopt it
  4. Embrace fear and be courageous anyway – be honest with people about the challenges but have the courage to face them anyway
  5. Get everyone involved – Entrepreneurs can’t do everything themselves. They need to have other people involved to build their company.
  6. Create a sense of urgency – have a bias for action to get ahead of competition
  7. Inspire people – without inspiring leadership it merely becomes a job for your people. Have them motivated to fulfill your Vision.

These are lessons that Entrepreneurs can definitely learn from and adopt.

 Ravi Patel

http://www.patelCFOservices.com

Is Losing a Bad Thing?

Many sports coaches have considered winning to be the only thing that matters. But, is losing always a bad thing?

If you always lose because you are not good at something or you have not done enough to prepare yourself to win, then losing has no redeeming qualities. However, if you are in top shape, are always practicing and improving, losing to a slightly better competitor is not necessarily all that bad.

Losing can lead to winning if you learn the lessons from your loss. What did the winner do differently? What could you have done better? Where did you feel you needed more effort or skill? If you can answer these type of questions, then they could be winning lessons.

Entrepreneurs can also learn the same winning lessons from losses or failures. If you learn from losses and make changes to improve your business and grow stronger, it is in fact quite positive.

Losing is not a bad thing if you learn some winning lessons from it.

Ravi Patel

www.patelCFOservices.com

Published in: on February 6, 2012 at 5:50 am  Leave a Comment  
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